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* o1 Y$ n& S6 `' f B7 [Below is an Interesting article I found, which says that.....Do not ! m! `7 L$ i2 H+ p+ f |* Y
expect much from Crude Oil producers and future is not with the + m8 l6 Q. Y" U6 j* ^
companies producing Jet fuels but Biofuels. Also no wonder if some of
& ]' }3 h3 W9 C" k! L3 ithese oil producer will go bankrupt or out of the business even if
' ~& m* O5 y0 _. j7 g1 e9 ~crude prices improves. This implies also to good names such as Shell, E' y' D3 C H# ~5 p; S8 X
EXXON, BG, BP, Cheveron ....xyz.. oils : E5 d9 V' y6 V
/ l. o. A, b H. E
Recently OPEC reduced crude oil production twice over just a few $ A. ^: ^ R4 @- ^3 ?
months. There are three wars going on in Gaza, Iraq and Afghandistan. 8 E4 m' U- f2 I4 ^$ `$ w
A year ago these things would have spiked the price of crude oil by at # A$ T' n8 e; p& W) ^& P4 Z; C
least $50.00 per barrel. Today, oil price declined by a record amount. / W* e2 m, {2 R; x
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$ o( F7 c7 _! o7 X) {, lThere are several reasons the price of oil is decreasing in the face 2 [8 `% u0 Z5 x7 F" J6 }
of so much news. These reasons are: Y' d3 s. v! Z' e
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1. New oil has been found in Canada, Montana, North & South Dakota and
6 A% v. R0 ]6 bin the ocean near Brazil. Each of these oil fields has more oil than
1 s" G" x3 \/ t& ~8 a& s* ^Arabia. # P$ j& T, R& r0 \. c
' ?5 z Y$ s- }7 H- U9 }
# E4 d4 _6 m9 d2. New natural gas has been found in Pennsylvania and West Virginia. ) s4 A: j9 I5 V; @, P
This is the largest find in North America. 6 f% ]5 g( }$ N
b g8 A- q. x) y' Y1 f; p0 T3 @6 u y4 T
3. New methods of injecting CO2 and surfactants into oil wells is , C. I; G1 j. g( }
being used to double their output. n, b2 {$ _* T6 k$ L5 ]2 @
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4. Production of bio-fuels is beginning to reach critical mass. Bio : o) ^, @% `7 _7 Z6 P3 l
fuel is being produced from many plants and algae. The production 3 V9 u2 x X! f9 w: W x# D
potential per acre in some cases is astounding. Many countries are ; ?% A v+ H, X# x$ J
racing to produce bio fuels. 4 ~" R7 F$ d0 c7 {: |. P7 f& f
7 ?) z6 _; z1 @2 Z/ E/ z5 C" h) j: o1 _
5. Virtually every restaurant in the US and all food processing plants
0 C, x; e6 j( h" pare now selling their used oil to bio-diesel producers. Every pork,
1 ]9 h4 ?& i4 W9 Jcattle, turkey and chicken processing plant will soon sell their fat
- L/ [4 J! b: }to bio-diesel producers. One pork processing plant in Oklahoma is , q" f7 Q. |: A$ x
producing 30,000 gallons of bio-diesel per day from pork fat.
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6. There are 99 nuclear reactors in various stages of planning and : Z* z( i5 K! o7 m, V) M
construction around the world at this time. Several hundred more are $ c( K. k; {7 I# y+ G- e- }1 B: a
expected to be built in the future. Much of the energy they produce
D0 a" s" H8 `1 swill replace oil.
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5 L9 B8 _ D# u# ^
7. Every company in any form of transportaion business is replacing : z. s; A+ z s. R X8 o
older equipment such as trucks, airplanes, train engines, ships, etc.
( ?) p- p9 I. y' k+ ^with new more fuel efficient equipment. Airlines and railway companies 4 Z; t; O9 }. n1 c
are experiencing 20% to 25% better fuel econony with the new 3 r, C, Y3 V0 F$ X. _0 @* {
equipment. , n# M0 b3 W T9 k
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Airlines are flying airplanes with bio-fuel. They are finding the bio- ' Y1 Z& }* s! R$ M6 c* v3 {
fuel is cleaner and performs better than jet fuel.
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1 `: i- q C7 O! u+ j8. Cities and counties throughout the US are selling the rights to
* t5 J( G% g7 h5 Z G6 ?capture methane gas from landfills. This is a huge source of gas
8 w1 J( Q7 P" o' V" h3 B+ Navailable at very little cost or risk. The gas is displacing crude
& @5 r4 G3 O3 }* A2 Moil. 3 Y4 A+ K, ^2 M3 o! g
+ p8 p2 L* ?( ]# o1 Z; M
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9. Coal is being transformed into a clean burning liquid fuel. The CO2 8 s Y( z0 ^$ U' ~4 Z
produced as a byproduct is sold to oil companies for injection into
" B& Y9 n+ V7 U- {, T: B Q1 ^oil wells. % E$ L" G& O8 s, }) p1 k, F8 Y% J
) [* r% c. w0 `/ y0 o9 U8 [) j. G: {
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10. Solar, wind and ocean energy is displacing oil as an energy , s. h- Z+ }7 w) R0 A; S
source. Three new wind turbines are being erected every day in the US.
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5 B. K! ~; q; C# n/ u8 bEach of the above by itself will not make a large difference in the
9 V. ` ^8 [' `) m8 h( @0 \# _price of crude oil but the sum of all of them together is world
8 B z0 ^. \+ g0 y6 n0 Uchanging. The important thing is that OPEC no longer has the ability 5 h3 w3 I; G6 U
to control oil prices.
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+ ?1 X0 M7 f+ T( i7 [6 e$ [0 |2 d7 z/ H1 L3 L
With the above scenario, I still believe that there are under
9 M& }2 A5 V8 R0 Fperformed OIL companies and probably they are yet to get the justified
7 V* K% X0 H4 P# }, U# X' F; fvalue ..... 0 Y, H! U) w* s# ?& b- x4 @6 [
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... + ]& O) W, q* ^$ m# w
" f6 K ~( c* x4 h! S- q
' I* ^+ ` [/ M- p( D& YThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
, }$ I7 ^/ @" F6 I2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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